Undominated Nash Implementation with Collusion and Renegociation
AbstractThis paper looks at implementation in economic environments when agents have perfect information about the state of the world, but cannot commit not to renegotiate bad outcomes or to collude against each other. If renegotiation satisfies a weak condition of disagreement point monotonicity, then any Pareto-efficient social choice function can be implemented if there are at least three agents who play undominated Nash equilibria. The mechanism does not use modulo or integer games, has no bad mixed strategy equilibria and is "bounded".
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Bibliographic InfoPaper provided by Institute of Social and Economic Research, Osaka University in its series ISER Discussion Paper with number 0448.
Length: 14 pages
Date of creation: 1997
Date of revision:
GAMES ; SOCIAL CHOICE;
Other versions of this item:
- Sjostrom, Tomas, 1999. "Undominated Nash Implementation with Collusion and Renegotiation," Games and Economic Behavior, Elsevier, vol. 26(2), pages 337-352, January.
- Tomas Sjostrom, 1997. "Undominated Nash Implementaion with Collusion and Renegotiation," Harvard Institute of Economic Research Working Papers 1791, Harvard - Institute of Economic Research.
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
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- Jackson, Matthew O., 1999.
"A Crash Course in Implementation Theory,"
1076, California Institute of Technology, Division of the Humanities and Social Sciences.
- Maskin, Eric & Sjostrom, Tomas, 2002.
Handbook of Social Choice and Welfare,
in: K. J. Arrow & A. K. Sen & K. Suzumura (ed.), Handbook of Social Choice and Welfare, edition 1, volume 1, chapter 5, pages 237-288
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